ABLE Financial Group LLC Buys 1,658 Shares of Alphabet Inc. $GOOGL

ABLE Financial Group LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 17.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,342 shares of the information services provider’s stock after buying an additional 1,658 shares during the period. ABLE Financial Group LLC’s holdings in Alphabet were worth $1,999,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mystic Asset Management Inc. boosted its position in Alphabet by 6.7% during the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock valued at $4,400,000 after acquiring an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co lifted its stake in shares of Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock valued at $4,187,000 after purchasing an additional 80 shares during the period. Cypress Capital LLC boosted its position in shares of Alphabet by 4.1% during the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock valued at $2,213,000 after purchasing an additional 563 shares in the last quarter. Bridgeway Capital Management LLC grew its stake in Alphabet by 17.9% during the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock worth $13,637,000 after purchasing an additional 13,371 shares during the period. Finally, Alaethes Wealth LLC increased its holdings in Alphabet by 1.1% in the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after purchasing an additional 84 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

GOOGL stock opened at $247.14 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The business has a 50-day simple moving average of $213.46 and a two-hundred day simple moving average of $181.91. The company has a market capitalization of $2.99 trillion, a P/E ratio of 26.32, a price-to-earnings-growth ratio of 1.70 and a beta of 1.01. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.00.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is presently 8.95%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GOOGL. Roth Capital raised their price objective on shares of Alphabet from $205.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Phillip Securities downgraded shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Sanford C. Bernstein raised their target price on Alphabet from $185.00 to $195.00 and gave the company a “market perform” rating in a research note on Tuesday, July 22nd. DA Davidson boosted their target price on Alphabet from $180.00 to $190.00 and gave the company a “neutral” rating in a research report on Tuesday, September 2nd. Finally, UBS Group increased their price target on Alphabet from $192.00 to $202.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $231.31.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the sale, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $249.44, for a total transaction of $149,664.00. Following the transaction, the director directly owned 5,716 shares in the company, valued at approximately $1,425,799.04. This represents a 9.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 258,088 shares of company stock valued at $52,405,304 over the last 90 days. 11.64% of the stock is currently owned by company insiders.

About Alphabet

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.